§ 2-1193. Presently vested rights.

From and after the effective date of this division, all annuities now being paid to former city employees or to beneficiaries of former city employees under the terms of present or former ordinances of the city, and all rights presently vested in former city employees to receive benefits in the future under the terms of present or former ordinances of the city, will remain in effect and be unchanged by the enactment of this division.

The city has the right to discontinue or terminate the retirement system plan in whole or in part. The rights of all affected members to benefits accrued to the date of termination, partial termination, or discontinuance, or cessation of contributions by an employer shall be 100 percent vested and nonforfeitable to the extend funded.

(Admin. Code 1967, § A9.16; Ord. No. 35794, 11-27-68; Ord. No. 951644, § A, 12-21-95)

Editor's note

Section B of Ord. No. 35794, passed November 27, 1968, from which this division is derived, provided that "all persons who become eligible for retirement or death benefits on or after October 6, 1968, shall receive the benefits provided for in this ordinance."